On average, listings lease in the $40's per square foot per year. The Playhouse District region is seeing a a boost in rates. In the last 3 months, the median rate increased $49 per sqft per year.
Compared to the rest of the Metropolitan Los Angeles market, the Playhouse District submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 16 listings have come on the market, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 75% of the office spaces in the Playhouse District are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 820 sqft. Most properties in this region are around 2 stories. Most buildings in this area were built in 1968 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Playhouse District occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.